Tethys Share Discussion Threads

[casual47] 16/5/2018 20:02

Whoever wrote it has some way to go on English 101.

I can't see how the below is anything but an attempt at discrediting the BOD (and basically accusing them of fraud):

"As a shareholder of Tethys Olisol insists on informing all shareholders on the reasons why oil sales since 2017 are carried out at prices significantly lower than the market ones."

[temporarily insane] 16/5/2018 19:59

Casual47, why dont you get in touch with Bill Wells and make your suggestion of ignoring Olisol heard?

[casual47] 16/5/2018 19:32

Don't be under any illusions: the press release by Olisol is meant to harm Tethys. It is not good news.

The implication, if we are to believe what they say, is that the BOD and Kumars (or whoever is really in charge of their shares) are in cahoots to defraud the shareholders by selling the oil below market value.

(Ironically, Olisol paid even less than what TPL is getting from the new guys now)

[casual47] 16/5/2018 19:26

Don't think Tethys owe Olisol a thing. As far as I know/recall:

1. All loans and agreements such as shares and 'work capital' by Olisol were done at group level, ie. Tethys Petroleum. If they wanted the money back they need to take them to court in Canada. But if they do that then they'll need to answer for having lost the court case TPL won at the bench of Alberta. This will never happen.

2. Any loans done at TAG level in Kaz were made by EGG who also lost their claims against TAG at the Kaz high court.

In my opinion TPL should just ignore Olisol altogether.

[1399peter] 16/5/2018 19:19

OK I think I might have translated this bit as the oil sold in advance and the Kaz banks can cover the $6.5m owed to Oli.

With the assistance of Olisol in April 2018, proposals for purchase of oil since May 2018 were received from two large oil refineries and traders, with the terms of a three-month advance payment. These oil buyers provided necessary financial confirmations from three Kazakhstani banks on the availability of the required amount.



Now what about the amount they owe Tethys

[casual47] 16/5/2018 14:30

TI, nothing that Olisol say or do are meant to be positives for TPL, it's all an attempt at sabotage.

Luckily their news release is so vague to be meaningless ("we held meetings" - ok, but what was the outcome and consequence?)

[casual47] 16/5/2018 13:35

None the wiser.

Whoever writes their press releases should be sent for re-education.

[fido] 16/5/2018 12:40

HONG KONG, May 15, 2018 (GLOBE NEWSWIRE) -- OLISOL Petroleum (hereinafter – "Olisol") hereby informs that from February to May 2018, it held a dialogue with the Board of Directors of Tethys Petroleum (hereinafter – “Tethys”) and the new management of TethysAralGas (hereinafter – the TAG) and tried to find a mutually beneficial solution to the disputed issues.

Olisol proposed a settlement plan and a solution to the issue of restructuring of the previously received loans for TAG in RBK Bank/DSFK on favorable terms.

With the help of Olisol, a meeting was held in the DSFK with participation of the representative of the Tethys Board of Directors and the new CEO of Tethys.

Also, options were offered for repayment of the amount received by Tethys from Olisol under the loan agreement or conversion into Tethys shares. To date, this amount is USD 6.5 million, including the accrued interest.

With the assistance of Olisol in April 2018, proposals for purchase of oil since May 2018 were received from two large oil refineries and traders, with the terms of a three-month advance payment. These oil buyers provided necessary financial confirmations from three Kazakhstani banks on the availability of the required amount.

The cost of oil offered by Tethys on terms of customer pickup from the Doris field was USD 28 per 1 (one) barrel. Based on the reports of Argus, an independent analytical agency, Olisol informed that the proposed price corresponds to the price of oil existing in the Kazakhstani market. Currently, Tethys sells oil at prices significantly lower than those offered by oil refineries directly.

On May 3, 2018, Eurasia GAS Group (hereinafter – the “EGG”) filed a lawsuit on imposition of a duty on TAG to fulfill the terms of the oil supply contract for EGG and the joint activity agreement. Oil price proposed by EGG in May 2018 is USD 28 per 1 (one) barrel.

As a shareholder of Tethys Olisol insists on informing all shareholders on the reasons why oil sales since 2017 are carried out at prices significantly lower than the market ones.

About Olisol

Olisol is headquartered in Almaty, Kazakhstan and its subsidiaries and affiliates have investments in energy and oil and gas operations in the Russian Federation and Kazakhstan. Olisol has worked with Tethys in Kazakhstan for over seven years, is joint owner of the Aral Oil Terminal with Tethys and has its own fleet of special oil trucks involved in oil transportation from Tethys’ oil fields. Olisol, through its affiliates, is engaged in railroad transportation, processing of oil, storage and sale of oil products.

Disclaimer
Some of the statements in this press release are forward-looking. When used in this document, the words “expects,̶1; “believes,R21; “anticipates,” “plans,” “may,” “will,” “intends”;, “should” and similar expressions, and the negatives thereof, are intended to identify forward-looking statements. Such statements are not promises or guarantees, and are subject to risks and uncertainties that could cause actual outcomes to differ materially from those suggested by any such statements including risks and uncertainties with respect to the foregoing. No part of this announcement constitutes, or shall be taken to constitute, an invitation or inducement to invest in the Olisol, Tethys or any other entity, and shareholders of Tethys are cautioned not to place undue reliance on the forward-looking statements. Save as required by applicable law, Olisol does not undertake to update or change any forward-looking statements to reflect events occurring after the date of this announcement.

Authorized Point of Contact:

Darya Klimova
Authorized Representative,
OLISOL Petroleum Limited
Tel.: [phone]
[e-mail]

[1399peter] 12/5/2018 12:45

I also think you have to give Tethys some pioneer credit here, as all these post Russian countries have got to be THE MOST difficult foreign business environments on Earth. So if they do eventually get through to the other side and can start trading like any normal company in any normal country, then it has to be hats off to Tethys.

A BIG IF though

Mind you, with the time it's taking none of us will be young enough to friggin enjoy it. COME ON TETHYS, where's the news.

[1399peter] 09/5/2018 15:51

That's what I just said, in morse clearly, bored stupid with this dragging on and on.


Just noticed the volume today 859k, but as always very little movement in the SP, Zzzzzzz

Perhaps we might have news after hours

[1399peter] 09/5/2018 09:05

-. --- - / .- / .-.. --- - / .... .- .--. .--. . -. .. -. --. / .... . .-. .

[toppix] 04/5/2018 10:24

My shares are also in the twilight zone - just waiting for some positive outcomes that will allow TPL to move on.

[sgodha] 02/5/2018 11:39

I have put TPL as personal NPA. Invested in BP and already recovered double the loss in TPL only in last 30 days.

TPL management must or should be doing their best to get the company out of water but not being BoD we won't understand that. So better to put this in vault and may be one day it will make my kids millionaire else NPA on my books to write off.

Not every decision goes well....but in life show must go on and we should try to move on. I don't know everyone's individual situation but I have even stopped asking HL about my shares.....may be not healthy but sure for now they are going no where.

[temporarily insane] 02/5/2018 10:10

Devonlad I have deleted comment. Just frustrated at nothing going on or being told nothing to show for the years of so called hard work.

But at the moment and for the past three years or so our shares are only worth .1-.15 CAD above bankruptcy anyways which is the frustration at so long to create nothing. And for most that makes the value of their shares pretty much worthless!